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Pension Changes – Practical Implications On 5 April 2013 the Labor Government announced a number changes to superannuation. The main change is the proposed new tax on pension earnings that exceed $100,000 per member per…
Author Archives: SMSF
SMSF Administration Providers
Once you have made the decision to go with a self managed super fund, the next step is to decide which provider you will use. As the trustee, you will need to engage the services…
Australia’s Largest SMSFs
How big do you think the largest Self Managed Super Funds in Australia are? A few million dollars perhaps? Try in excess of $40 million! The ATO recently released a report titled Self-managed superannuation funds –…
SMSF Tax File Number
When we set up a new SMSF, we apply to the ATO for an ABN and also a TFN for the new Fund. The Tax Office sometime issue these numbers immediately and sometimes it takes…
Using Insurance as an Investment Strategy
Many people think of life insurance as a tool for wealth protection, but it can actually be used effectively as a part of the investment strategy for an SMSF. Currently life insurance is much underutilised…
SMSF Technical
Here we add some technical aspects around the auditing function for SMSF’s. 1.The Accounting and Auditing function should be segregated. This means the accountant can’t act as the auditor as well. 2. Auditing standards on…
Selecting an SMSF Service Provider
All SMSF holders will need to decide who will provide the administration and audit services to their SMSF. Although an SMSF is regarding as a DIY (do it yourself) super fund, there are some functions…
2012 Survey
A SMSF.net.au 2012 audit survey showed that approximately one in three non-pension paying SMSFs held insurance in respect of the fund’s members. This represents a small increase over the previous year. Insurance cover falls into one…
Self Managed Super for Tradespeople
We all know that the SMSF industry is booming in Australia, and one of the growing users of self managed super are tradespeople. One of the major reasons for people switching to an SMSF is…
SMSF Setup Costs
How much does it cost to setup a self-manager super fund? This is one of the first questions that someone will ask once they have decided that an SMSF may be the best option for…